Hope for flood-hit businesses

New insurance scheme offers hope for flood-hit businesses

BIBA have recently launched a commercial insurance scheme including flood to cater for risks in flood hit areas. Quotations will also be available, in most cases, for those that have previously suffered from flood damage.

There are 3 specific products available:-

Commercial Combined for manufacturing and distribution trades

Retail, Office and Surgery packages

Property Owners for individual and portfolio property investors

Each product has wordings that include loss damage and liabilities that you would expect from a standard comprehensive commercial policy.

Key benefits of the scheme are:-

Recognition of flood resilience and resistance measures in pricing and terms